AMD moves stock listing to Nasdaq to save costs

AMD announced it's transferring its stock exchange listing from the NYSE to the Nasdaq. The press release below is rather vague why they're doing this but possibly it's a minor cost-saving move. A listing on the NYSE is more expensive than a Nasdaq so it's reasonable to assume that AMD is doing the exchange move to lower its listing fees.

AMD (NYSE: AMD) today announced that it is transferring its stock exchange listing to The Nasdaq Stock Market from The New York Stock Exchange, effective after market close on December 31, 2014. AMD shares are expected to begin trading as a Nasdaq-listed security on January 2, 2015 and will continue to trade under the symbol AMD. This transfer is expected to be seamless for AMD investors and shareholders.

"We are excited to join other industry-leading technology companies listed with Nasdaq and believe this move will help AMD reach investors and shareholders more efficiently and effectively as we continue transforming the company for long-term growth," said Devinder Kumar, senior vice president and chief financial officer, AMD. "We are proud to welcome AMD to Nasdaq and look forward to a successful partnership with the company and its shareholders," said Bruce Aust, Vice Chairman at Nasdaq.

A Bloomberg article from two years ago mentions Nasdaq listing fees of $35,000 to $99,500 a year, whereas around 80 percent of NYSE companies are said to pay $199,000 or less annually:

NYSE Euronext charges more for companies to list, with an initial fee of $125,000 to $250,000 and annual payments from $38,000 to $500,000. About 80 percent of NYSE companies paid $199,000 or less annually, Adamonis said. Nasdaq OMX’s initial listing fee for IPOs ranges from $35,000 to $99,500 for its highest tier of companies, and its annual fee is $35,000 to $99,500.